Is it okay if my unearned income goes on my parents' tax forms, but my earned income goes on my own?
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i mean like basically splitting my income. assuming my unearned is under 9500 and im a dependent. the irs would be basically getting 2 income forms from me. one from my parents about my unearned. and one of my own, earned. also what if some of my unearned income was on my parents tax forms, and then some OTHER unearned income was on my OWN tax form??
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Answer:
Don't post the same questions twice. The answer is NO, you can't have half both a 1040 under your SSN and an 8814 under your SSN attached to your parent's return. One of the rules for being eligible to use the 8814 was broken. Your parents must amend and remove the income. EDIT, ignore tro. She is blissfully unaware that the kiddie tax rules changed and now applies if you are 19 or under 24 and in school.
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Don't post the same questions twice. The answer is NO, you can't have half both a 1040 under your SSN and an 8814 under your SSN attached to your parent's return. One of the rules for being eligible to use the 8814 was broken. Your parents must amend and remove the income. EDIT, ignore tro. She is blissfully unaware that the kiddie tax rules changed and now applies if you are 19 or under 24 and in school.
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no, they should not be claiming any of your income on their return, you are no longer a minor who would be covered by the kiddie tax they have been able to claim while you were a minor your problem is your secrecy you want to maintain about your stock sales(losses) if you demand the statement of your trust money, obviously they will be suspicious why you want it and you are somehow going to have to reveal your financial activity to them
tro
No. All income for you earned and unearned goes on YOUR tax return. If your parents claimed part, you could be fined for tax fraud.
Miranda
No. All income for you earned and unearned goes on YOUR tax return. If your parents claimed part, you could be fined for tax fraud.
no, they should not be claiming any of your income on their return, you are no longer a minor who would be covered by the kiddie tax they have been able to claim while you were a minor your problem is your secrecy you want to maintain about your stock sales(losses) if you demand the statement of your trust money, obviously they will be suspicious why you want it and you are somehow going to have to reveal your financial activity to them
tro
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